Earlier today, Apple made an announcement about stimulating the speed at which it is making investments in the United States. Over a period of five years, the Cupertino-based giant is planning to invest more than $430 billion and create over 20,000 jobs in the United States. In the year 2018, Apple has set a goal to invest $350 billion in five years. Judging by the operations undertaken by the company in the last three years, they seem to be very serious about their US investments.
Where Will Apple Invest?
Now, a 20 percent increase will be observed in the company’s commitment towards making investments in the United States. There are two core areas it will be focusing on, increasing financial benefits in every state and lending its support to American innovation. A part of its plan includes spending a large amount of money towards the purpose of 5G implementation in as many as 9 states in the United States and next-generation silicon development.
Tim Cook, Apple’s CEO, has remarked that Apple, like most other companies across the globe, is going through a process of “recovery and rebuilding” but that hasn’t dampened the company’s spirits or slowed down its efforts towards making serious investments in the US. All the investment and their plans, he said, are being done keeping their goal of creating a “greener and more equitable future”.
At the moment, Apple has more than 2.7 million direct employees across the country. A lot of these jobs are concentrated in the iOS app ecosystem. Its clout and presence in the US can be gauged by the fact that it is the highest tax-paying company in the country. In the last five years, Apple has shelled out close to $45 billion in inland or domestic corporate income taxes.
Creating More Jobs
The $430 Billion Apple has contributed to the US economy includes spending with US suppliers, capital expenditures in the country, data center investments and other forms of expenditure in the country. A large amount of money has also been spent in producing content for Apple TV+ across 20 states. That alone has contributed towards creating numerous jobs in the entertainment industry.
Apple also plans to invest more than $1 Billion in North Carolina wherein it will soon start the process of constructing a new campus area consisting of several engineering institutes in the Research Triangle area. This particular investment will result in the creation of more than 3,000 new jobs in areas like software engineering, artificial intelligence and machine learning.
There are also plans of putting together a $1 million fund with the objective of lending support to schools and different community-based enterprises in the Raleigh-Durham area.